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Retirement income that arrives steadily, year after year.

Know about SBI Life - Swarna Jeevan Plus

sbil-corp-uin: 111N131V11 | sbil-corp-product-code: 2S

Efficient Risk Management

Secure Pension for Employees

Flexibility in Annuity Options

Know Your Life Insurance Plan

Features

Annuity Options: Experience flexibility and reassurance with SBI Life - Swarna Jeevan Plus comprehensive range of annuity options available to a Master Policyholder or group member. Opt for single or joint annuity options designed to meet your specific requirements, ensuring appropriate coverage for diverse situations.
 
Reliable Management: SBI Life - Swarna Jeevan Plus delivers careful oversight that strengthens security and builds lasting confidence. Your group funds are managed by dedicated, experienced professionals, ensuring that retirement obligations are handled with expertise and diligence. This professional management allows you to focus on your organisational priorities, knowing that your employees' retirement security is well managed.
 
Enhanced Annuity Rates: Competitive payouts create meaningful benefits for members. With SBI Life - Swarna Jeevan Plus, you deliver value that supports both employee satisfaction and organisational objectives, fostering a positive work environment.
 
Deferred Annuity Options: Determine the timing that aligns with your organisation's goals. Receive payouts at the most suitable moment, supported by the assurance of a purchase price refund where applicable. SBI Life - Swarna Jeevan Plus flexibility enables you to coordinate benefits with employee transitions, ensuring readiness when retirement arrives.
 
Flexible Annuity Choices: Different requirements call for thoughtful solutions. SBI Life - Swarna Jeevan Plus presents multiple annuity payout types and schedules. This enables the selection of arrangements that suit your group's circumstances, ensuring each member receives appropriate financial support
 
Customisable Plan: Shape your plan according to established scheme rules. This achieves the flexibility needed to honour your group's priorities and long-term goals, demonstrating your commitment to meeting diverse workforce needs.

Advantages

Reassurance: Experience the clarity that comes from entrusting pension management to capable professionals. SBI Life - Swarna Jeevan Plus simplifies pension administration while ensuring every commitment to your workforce remains fulfilled with certainty. This enables you to concentrate on organisational growth, knowing retirement obligations are managed with expertise.
 
Accessible and Straight forwardSBI Life - Swarna Jeevan Plus plan delivers comprehensive coverage while maintaining fiscal responsibility. Quality retirement benefits become attainable, demonstrating your commitment to employee welfare within sustainable parameters.
 
Reliability: Employees receive fixed annuity or pension benefits that establish a stable foundation for their retirement years. SBI Life - Swarna Jeevan Plus guaranteed payments enable them to maintain their chosen lifestyle with confidence and dignity. This consistent support provides lasting security throughout their post-employment years.
 
Flexibility: Employees can select benefits that align with their individual circumstances. They receive payouts structured to support their unique financial planning requirements, whether addressing immediate needs or long-term objectives. SBI Life - Swarna Jeevan Plus’ personalised approach recognises the diverse situations within your workforce, honouring each employee's distinct journey.

Plan Benefits

A variety of Annuity Options to choose from :
 
Single Annuity

• Life Annuity

• Life annuity with refund of purchase price#

• Life annuity with refund of balance purchase price#

• Annuity certain for N years and annuity for life thereafter

• Increasing Life annuity (Simple or Compound increasing)

• Deferred Life annuity with refund of purchase price#
 
 
Joint Annuity

• Joint life (last survivor) annuity

• Joint life (last survivor) annuity with refund of purchase price#

• Joint life annuity certain for N years and joint life (last survivor) annuity thereafter

• NPS – Family Income (Option available specifically for National Pension System (NPS) subscribers only)

• Increasing Joint Life (last survivor) annuity (Simple or Compound Increasing)

• Deferred Joint life (last survivor) annuity with refund of purchase price#

The plan benefits would depend on the annuity options selected.

# Purchase Price will mean member premium (excluding applicable taxes, other statutory levies if any) under the member policy

Downloads

For more details on risk factors, terms and conditions of the SBI Life - Swarna Jeevan Plus, read the following documents carefully.

• Product Brochure/Prospectus

• Product Guide

• Policy Document

• Membership Form

• Proposal Form

• Annuity Certificate

• Swarna Jeevan Plus - Annuity Certificate - CIS

• Swarna Jeevan Plus Customer Information Sheet (CIS) for MPD
 

Who Can Buy?

  Minimum Maximum
Age^ at entry (as on last birthday) Under NPS - Family Income (Option 9): as per NPS Scheme Rules
Under Deferred annuity options: Group Member: 45 years Second annuitant: 18 years Under all other annuity options: Group Member: 30 years Second annuitant: 18 years Under all other annuity options: Group Member: 85 years Second annuitant: 85 years
Annuity Payout^^ (per installment) Under NPS - Family Income (Option 9): as per NPS Scheme Rules
Monthly : ₹1,000 Quarterly : ₹3,000Half-yearly : ₹6,000 Yearly : ₹12,000 No limit, shall be as per Board Approved Underwriting Policy
Deferment Period (in multiples of 1 year) 1 year 10 years
Premium For any type of annuity, will be such that the annuitant/s can be paid minimum annuity as per the annuity payment mode chosen. No limit, shall be as per Board Approved Underwriting Policy
Payment Frequency Single Premium (for all options including Deferred Annuity Option)
Policy Term Master Policy will continue till the last annuitant is alive and/or annuity is being paid as per the scheme's rule
Tax Benefit You/member are eligible for Income tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. You may visit our website for further details. Please consult your Tax advisor for details
Group size 10 members No limit

^All the references to age are age as on last birthday.

^^Amount below this limit will only be offered where the proceeds are from the superannuation fund, administered by SBI Life, where compulsory purchase of annuity is required and to the subscribers of the National Pension Scheme (NPS) regulated by the Pension Fund Regulatory and Development Authority (PFRDA). However, in such cases the minimum annuity will be as per the scheme rules.

The eligible members/annuitants would also have an option to purchase immediate annuity or deferred annuity from another insurer at the then prevailing annuity rate to the extent of 50% of the entire maturity proceeds of the policy net of commutation.

Note: In case of two lives annuity, the maximum age difference allowed between primary and secondary life is 30 years subject to the minimum and maximum entry age of both lives.

ਅਕਸਰ ਪੁੱਛੇ ਜਾਣ ਵਾਲੇ ਸਵਾਲ

SBI Life - Swarna Jeevan Plus is a Non-linked, Non-participating, General Annuity group product designed to provide stable retirement income for employees. It helps you manage your pension schemes while ensuring that your employees receive guaranteed annuity payments. Both you and your employees benefit from a reliable retirement solution that keeps long-term stability in place. To learn more about the SBI Life - Swarna Jeevan Plus policy, reach out to our experts today.

The SBI Life - Swarna Jeevan Plus policy is primarily designed for employers or organisations who wish to provide their employees with a secure retirement income. It is available to corporate groups, organisations, or trusts looking to offer annuity benefits to their employees as part of a pension or retirement scheme. This helps ensure your employees' retirement years are supported with the same care you bring to building your organisation.

The SBI Life - Swarna Jeevan Plus policy offers several annuity options to meet different needs, including options for lifetime annuity, joint life annuity, and annuity with return of purchase price. These options allow you to tailor the plan to your employees’ specific retirement requirements, providing flexibility in terms of payout structures. Your commitment to their future takes shape through choices that keep their retirement secure. To learn more about about SBI Life - Swarna Jeevan Plus’ annuity options, speak to our experts today.

Yes, it is possible to surrender the SBI Life Swarna Jeevan policy. However, this facility is available only under the Deferred Annuity options, and the policy can only be surrendered during the deferment period.

The minimum and maximum entry ages for the Swarna Jeevan Plus policy vary depending on the annuity option chosen:

  • Under Deferred Annuity Options:
    1. Group Member: Minimum age of 45 years
    2. Second Annuitant: Minimum age of 18 years
  • Under All Other Annuity Options:
    1. Group Member: Minimum age of 45 years
    2. Second Annuitant: Minimum age of 18 years
  • Maximum Age for All Annuity Options:
    1. Group Member: Maximum age of 85 years
    2. econd Annuitant: Maximum age of 85 years

The SBI Life - Swarna Jeevan Plus policy offers tax benefits under Section 80C of the Income Tax Act for premiums paid towards the policy. Additionally, the annuity income received is subject to taxation as per the prevailing income tax laws. You may also benefit from tax exemptions on the death benefit or pension payouts, depending on the specific conditions of the plan. These tax benefits help your employees enjoy their present while building a stronger foundation for their tomorrow.

Yes, under the SBI Life - Swarna Jeevan Plus policy, annuity payments can be received in different frequency options, including monthly, quarterly, half-yearly, or yearly. This flexibility allows employees to choose the payment schedule that best suits their financial planning and needs.

To purchase the SBI Life - Swarna Jeevan Plus policy, you can directly approach us or contact an authorised agent.

ਸਾਰੇ ਵੇਖੋ

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. The Annuity Benefits depends upon the Annuity Options and mode of payment chosen by the annuitant and annuity rates prevailing at the time of purchase of the annuity will be paid to the annuitant(s).

 

*Tax Benefit:

 

You/member are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. For further details, click here. Please consult your tax adviser for details.
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